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Bitcoin resumes fall again, slips below $15000 - Capital Street FX

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    • Bitcoin resumes fall again, slips below $15000
13:06 IST

Bitcoin has fallen below $15,000 after the cryptocurrency’s biggest rally in two weeks ended a rout that wiped out more than $9,000 off the price. The market has resumed its tumble on Thursday after South Korea said it was eyeing options including a potential shutdown of at least some cryptocurrency exchanges to stamp out a frenzy of speculation. South Korea has been ground zero for a global surge in interest in bitcoin and other cryptocurrencies as their prices surged this year, prompting the nation’s prime minister to worry over the impact on Korean youth.

The largest cryptocurrency was down 6.3 percent to $14,913 as of 3:07 p.m. in New York, having earlier climbed as much as 3.6 percent. Among rival digital currencies, ripple rose 8 percent, while Ethereum and Litecoin fell, according to data compiled by Bloomberg.

On the technical charts the market has slipped below the 61.8% Fibonacci retracement level (from 5394 to 19811). The RSI is placed below 50, at 48.78. The MACD is in the negative zone.

Trade suggestion:

Buy (BTCUSD) stop at 13666, take profit at 14020, stop loss at 13350

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